KCM Capital Inc Trims Stake in AppLovin Corporation $APP

KCM Capital Inc reduced its stake in AppLovin Corporation (NASDAQ:APP) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the company’s stock after selling 10,000 shares during the period. AppLovin accounts for 2.6% of KCM Capital Inc’s portfolio, making the stock its 14th largest position. KCM Capital Inc’s holdings in AppLovin were worth $15,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cassaday & Co Wealth Management LLC purchased a new position in shares of AppLovin during the 1st quarter worth approximately $25,000. Washington Trust Advisors Inc. lifted its stake in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin in the fourth quarter worth $32,000. Finally, First Pacific Financial purchased a new stake in AppLovin in the first quarter worth $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 3.8%

AppLovin stock opened at $412.48 on Thursday. AppLovin Corporation has a 12 month low of $349.21 and a 12 month high of $745.61. The company has a market capitalization of $138.57 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49. The business’s fifty day simple moving average is $502.88 and its two-hundred day simple moving average is $482.25. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s revenue was up 58.9% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. As a group, equities analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares in the company, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the transaction, the chief executive officer owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 in the last ninety days. 12.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Wells Fargo & Company increased their price target on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $668.45.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.